A Record: 90 million Americans not in labor force

 

On the eve of Labor Day, the Bureau of Labor Statistics has reported alarming unemployment figures that are reaching the most desperate levels since the Department of Labor began collecting the data during the Truman administration three years after the end of World War II.

On Aug. 2, the BLS reported nearly 90 million Americans were not currently in the labor force in July, with the percentage of the civilian non-institutional population not in the labor force now registered at 36 percent.

For men, the BLS reported labor force participation rate of 63.5 percent for August is the lowest figure recorded since the Labor Department began collecting the data in 1948.

Earlier this month, WND reported that according to John Williams, an economist known for arguing the government reports manipulated “shadow statistics” of economic data for political purposes, the real unemployment rate for July was 23.3 percent, not the 7.4 percent reported by the Bureau of Labor Statistics.

By including in the calculation of the unemployment rate those who the BLS classifies as “not currently in the labor force” because of their long-term unemployment, the true unemployment rate could be more than three-times the unemployment rate the BLS publicly declares.

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